Result of GM, Directors' Holdings and TVR

RNS Number : 3864C

Swallowfield PLC

27 June 2016

 

Swallowfield plc

("Swallowfield" or the "Company")

Result of General Meeting

Directors' holdings

& Total voting rights

Result of General Meeting

On 6 June 2016 Swallowfield announced that it had entered into a conditional agreement to acquire the entire issued share capital of The Brand Architekts Limited ("Brand Architekts") (the "Acquisition") and conditionally raised £8.6 million (before expenses) through the issue of 5,558,985 new Ordinary Shares in an oversubscribed placing arranged by N+1 Singer.

The Company is pleased to announce that at the General Meeting held today all resolutions proposed were duly passed and accordingly the Placing and Acquisition will complete upon admission of the New Ordinary Shares to trading on AIM expected on or around 28 June 2016 ("Admission").

Chris How, Chief Executive of Swallowfield, said: "The acquisition of Brand Architekts is a transformational development for the Group. It significantly enhances our owned brand portfolio, a key strategic pillar for the Group, and adds further expertise to the team. It further strengthens our business model of building two complimentary value streams (core contract manufacturing and owned brands) on one single capability platform. On behalf of the Board, we would like to thank both our existing and new shareholders for their support."

Issue of equity

Application has been made to the London Stock Exchange for the 5,558,985 New Ordinary Shares to be admitted to trading on the AIM market of the London Stock Exchange. It is expected that Admission will become effective on or around 28 June 2016.

Total voting rights

Following Admission the number of ordinary shares of 5 pence each in the capital of the Company in issue and number of voting rights following Admission of all of the Placing Shares will be 16,865,401.  The above figure may be used by Shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

Directors' holdings

Following the Placing and Admission, the Directors of the Company will hold the following interests in the issued share capital of the Company:

	Number of Ordinary Shares prior to Admission	Percentage of Existing Share Capital	Number of Ordinary Shares immediately post Admission	Percentage of Enlarged Share Capital post Admission
Brendan Hynes	50,000	0.44%	74,914	0.44%
Chris How*	60,000	0.53%	89,977	0.53%
Mark Warren**	22,100	0.20%	33,030	0.20%
Jane Fletcher***	25,000	0.22%	37,374	0.22%
Roger McDowell	71,000	0.63%	344,189	2.00%

*From Admission Chris How will be interested in 89,977 Ordinary Shares, of which 39,998 will be held in the name of his wife Elaine How.

**From Admission Mark Warren will be interested own 33,030 Ordinary Shares, of which 10,930 will be held in the name of his wife Jane Reynolds.

***From Admission Jane Fletcher will be interested own 37,374 Ordinary Shares, of which 6,452 will be held through her SIPP operated by Alliance Trust.

Defined terms used in this announcement shall have the same meaning as those terms defined and used in the Circular dated 6 June 2016.

About Swallowfield plc

Swallowfield plc is a market leader in the development, formulation, and supply of personal care and beauty products, whose customers include many of the world's leading brands.

For further information please contact:
Swallowfield plc
Chris How	Chief Executive Officer	01823 662 241
Mark Warren	Group Finance Director	01823 662 241
Nic Hellyer/ Jen Boorer/ Alex Price	N+1 Singer	0207 496 3000
Josh Royston / Hilary Buchanan	Alma PR	07780 901979

 

 

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